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Biosensors International Group (BIG), a biotechnology company listed in Singapore Exchange, acquired JW Medical Systems Ltd in 2011. This resulted in a significant increase in reported goodwill and other intangible assets. On 2 July 2012, Matthew Tay, an analyst with MMB Ltd (an equity research company in Singapore), sat staring at the balance sheets of BIG. The sum total of intangible assets and goodwill constituted 62% of total assets compared to 4% the year before. He knew that the huge increase was due to the acquisition of JW Medical Systems in 2011. He wondered what these intangible assets and goodwill represented, how they were accounted for and how they should be interpreted. This case study deals with the valuation and the impairment testing of intangibles (including goodwill) reported in the financial statements of BIG, and describes the acquisition transaction and BIG's post-acquisition financial position.

learning objective:

This case has three learning objectives: 1) To discuss intangible assets acquired as part of a business combination (including goodwill arising from consolidation), and their accounting treatments with reference to the relevant accounting standards; 2) To understand the estimates that must be made and the judgements that must be exercised when accounting for, and reporting, intangible assets in accordance with IFRS; 3) To discuss the implications of the above issues on the usefulness of financial reporting.

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Since the opening up of its economy in 1979, China has followed an export-led growth policy and transformed the country into a 'Factory of the World' with its labour-intensive manufacturing. Since then, many factories were set up and concentrated mostly in the south-eastern coastal provinces. Although this policy resulted in consistently high annual growth and creation rates, negative side effects such as environmental, economic and social problems became increasingly evident. To address these challenges, in 2012, China's policymakers changed the policy direction to focus more on domestic consumption-led growth. One strategy to achieve the goal was to expand its manufacturing base into the hinterland. To attract investors to move to the inner regions, the government developed gigantic industrial parks and basic infrastructure to accommodate the new policy. This case depicts Xi Yong Micro-electronics Industrial Park in Chongqing, the largest municipality in Western China. It discusses the implementation of the government's development strategy at Xi Yong and presents an opportunity to examine whether Xi Yong and other similar industrial parks would provide the solution that the government is looking for.

learning objective:

1) To understand the past economic development of China: economic development strategy, export-led growth policy components, success and weakness of such a policy. 2) Compare and contrast the export-led growth and consumption-led growth strategies. 3) Evaluate the 12th Five-Year Economic Plan to gauge its potential success. 4) To apply macroeconomic understanding to business implementation.

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This case provides a discussion of critical illness insurance from various perspectives. The case first looks at critical illness insurance from both a consumer's and life insurers' perspectives. The case then discusses critical illness insurance's position in a changing healthcare and health insurance environment before considering its relevance in the future.

learning objective:

Understand critical illness insurance from a consumer's perspective What product features to look out for Which product features fit your needs Evaluate critical illness insurance as part of the total insurance portfolio of a consumer

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This case deals with the service operations and quality management issues faced by SMRT Trains, one of the rapid transit rail operators in Singapore. The trigger point for the case was the occurrence of two massive service disruptions on December 15, 2011 and December 17, 2011, respectively. Even though the rail line that faced the disruption had been in existence for over two decades, this was the first time that multiple disruptions of such massive impact (five hours or more of loss of service) occurred and impacted commuters widely across Singapore. The case delves into quality management, service operations and root cause analysis.

learning objective:

a) To introduce quality management concepts to business and engineering students in a graduate or undergraduate programme. b) To provide opportunity to apply root cause analysis to a quality management issue in service operations. c) To appreciate the strategic importance of quality and to understand how top management commitment and focus is necessary to ensure consistent quality of goods and services.

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This case provides the setting to evaluate the capital raising and management strategies taken by Genting International/Singapore to build Resorts World Sentosa. The case introduces the Singapore Integrated Resorts concept which is a distinct new business model in the global gaming business. This is followed by a review of the parent company behind Resort World Sentosa, Genting Berhad and Genting International which was subsequently renamed Genting Singapore. The case then discusses the several capital raising initiatives and management strategies taken by Genting International/Singapore for the development of Resort World Sentosa.

learning objective:

The case provides the setting to discuss the following issues: 1. The distinctive features of the IR model as compared to other prevailing models in the global gaming industry. 2. Possible reasons for Genting International winning one of the two IR awards in Singapore and the role of the Singapore IR in Genting Group's strategic thrust in the global gaming industry. 3. The range of capital raising initiatives taken by GI and subsequently GS to secure funding for the development of RWS. The context to each capital raising initiative is provided to facilitate the discussion of the capital management strategies taken by GI/S. 4. Prospects of replicating the Resorts World brand based on Singapore's IR concept in other different parts of the world.

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In 2005, CapitaLand announced the sale of the hotel business under its subsidiary Raffles Holdings Limited for US$1.45 billion. This included the sale of landmark Raffles Hotel as well as 40 other hotels, including the Swissôtel international hotel chain. The case focuses on the financial and the strategic aspects of the sale from the perspective of CapitaLand and includes the following: • What should be an appropriate valuation for Raffles Holdings? • How should the value of intangible assets such as brand name be incorporated? • Was there strategic justification for CapitaLand to pursue a divestiture that would translate into loss of the iconic Raffles Hotel - a national monument of Singapore?

learning objective:

This case incorporates both financial and strategic issues regarding the asset portfolio of a holding company. The teaching objectives of the case are both quantitative and qualitative. It is suitable for students who have completed the first course in financial management or basic equity valuation. It is especially useful in an advanced corporate finance course where students can discuss the technicality of valuation, the judgment for intangible factors that affect the valuation numbers as well as the bigger topic of strategic direction for the parent company, CapitaLand. In addition, this case may be used in a negotiation class. The main topic for negotiation is on the premium for intangible assets such as goodwill, brand name and the National Monument status of Raffles Hotel at the time of divestiture.

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In the mid-1980s, following new directions in the Singapore government's national economic development policy, Port of Singapore Authority (PSA) set out on a plan to create an oil bunkering industry where none existed before. By the early 1990s, using standards development as a strategic tool, Singapore's port grew to be the top oil refueling centre in the world. In the 2000 decade, the new process technology of mass flow metering for quantity measurements could bring about significant operational efficiencies in the oil bunkering industry. However, it could change the standards put in place over the last three decades. The key challenge for Singapore was: how should the standards development process be managed to deliver the promise of the new technology, balance the interests of diverse groups of stakeholders while maintaining Singapore's position as the world's top oil bunkering centre?

learning objective:

Role of public agencies in industry development - standards development as a strategic tool in governance; stakeholders' management and confidence building. Community of practice, Knowledge management and learning in industry development. • Role of public agencies in industry development - standards development as a strategic tool in governance; stakeholders' management and confidence building. • Community of practice, Knowledge management and learning in industry development Technological innovation and public policy - impact of mass flow metering on the oil bunkering industry in Singapore and on the use of standards development as a strategic tool in industry growth and development

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This case depicts how institutional transitions in an emerging market shape the strategy and performance of a small business and its surrounding competitive dynamics. Elite Optical, a family-run business, was founded in Nanning, Guanxi Province, during China's economic reforms in the late 1980s. Its first eyeglass shop, opened in 1986, received immediate success when the only major competitor at the time was Heng De Li, a traditional state-owned enterprise (SOE). In 2013, the entrepreneurial family firm was celebrating its 28th anniversary, with 15 optical retail outlets in Nanning city. However, the competitive landscape in eyeglass industry has changed significantly and become more intense since the early 2000s when more domestic and international players entered the local eyewear market. Cheng Zhi, CEO and Chairman of Elite Optical, is contemplating how to respond to the competitive threats. At the same time, he also faces challenges on how to cope with the growth demand by transforming its family business into a professionally-managed firm in the near future.

learning objective:

Analyze how changes in the general and industrial environments influence a firm's strategy and performance. Examine threats and opportunities for a small private firm operating under institutional transitions in the context of emerging economies. Recognize challenges facing a family-run business as it transits into a professionally managed firm.

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The e-payments landscape in Singapore was previously dominated by two major card issuers with non-interoperable cards. The Infocomm Development Authority launched an initiative to develop an innovative standard that would provide an interoperable platform in order to boost local micropayments and open up e-payment services for consumers. The result was a pioneering ISO standard - the Contactless e-Purse Application Standard (CEPAS). This open standard, with unique security and high-performance features, enabled multiple payment applications offered by different issuers to be on a single smart card, which consumers could use for bus, taxi, and rail transport, car park and road usage charges, and retail micropayments. The case examines the significant challenges and trade-offs in the development and deployment of this platform innovation - such as orchestrating the efforts of multiple stakeholders and balancing various stakeholders' legitimate interests; incentivising investment in supporting infrastructure and complementary innovations; as well as promoting the adoption and diffusion of the cards by consumers and merchants. The CEPAS platform was also being leveraged for the next generation of e-payment innovations, such as payments via Near Field Communication-enabled mobile phones.

learning objective:

The case can be used in three related topics - platform innovation, standards development and deployment, and innovation diffusion. Learning objectives include understanding: • The role of standards in platform innovations • The importance of identifying key stakeholders and understanding their diverse motivations • Incentivizing and orchestrating the contributions of key stakeholders • Investment in complementary innovations • Mass adoption of the innovation

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CBM Pte Ltd (CBM) originated as a subsidiary developed to support the facilities management (FM) needs of its property development parent, Singapore-based City Developments Ltd. Viewed as an industry, FM comprised a surprisingly large component of the GDP in mature markets such as Europe and North America, and was beginning to grow rapidly in emerging markets such as Asia and the Middle East. With the Singapore market approaching saturation, and new opportunities arising in overseas markets to which the recently reorganised firm had good access, CBM had achieved several years of double-digit growth. However, the FM market was evolving as large players began to expand their overseas networks and integrate their services to follow multinational clients around the globe. Was the trend toward service integration and environmental sustainability an opportunity for CBM, or a threat? How could they sustain their profitable growth?

learning objective:

This case can be deployed in an Operations Management or Entrepreneurship course, to introduce students to the Integrated Facilities Management model, and to surface constraints to growth in this dynamic, somewhat messy, and complex industry. It might also be used late in a strategy or OB course, to ground students in the day-to-day realities of implementing strategy and organisational change.

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